Summary by Futu AI
NaaS Technology reported total revenues of RMB155.7 million for the nine months ended September 30, 2024, representing a 9.7% YoY decrease. Charging services revenues grew 65.5% to RMB135.1 million, while energy solutions revenues declined 82.8% to RMB15.1 million due to strategic shift away from low-margin projects. Gross margin improved to 39.0% from 29.9% in the prior year.Operating expenses decreased significantly by 45.6% to RMB409.7 million, driven by optimized operations and reduced user incentives. Selling and marketing expenses fell 51.8% to RMB149.4 million, while administrative expenses decreased 45.4% to RMB222.6 million. The company recorded income tax benefits of RMB66.7 million compared to expenses of RMB0.5 million last year.Net loss attributable to shareholders narrowed to RMB370.6 million from RMB811.2 million in the same period of 2023. On a non-IFRS basis, net loss decreased to RMB145.0 million from RMB386.0 million, reflecting improved operational efficiency and gross profit enhancement.
